MBA SEMESTER 1
MB0040 – STATISTICS FOR MANAGEMENT- 4 Credits
(Book ID: B1129)
Assignment Set- 2 (60 Marks)
Note: Each question carries 10 Marks. Answer all the questions
What do you mean by Statistical Survey? Differentiate between“Questionnaire” and “Schedule”.
A Statistical Survey is a scientific process of collection and analysis of numerical data. Astatistical survey is divided into two broad categories.1. Planning 2. Execution
Planning of a Statistical Survey
The relevance and accuracy of data obtained in a survey depends upon the care exercised inplanning. A properly planned investigation can lead to best
results with least cost and time. Theplanning stage consists of the following sequence of activities.1. Nature of the problem to be investigated should be clearly defined in an un- ambiguousmanner.2. Objectives of investigation should be stated at the outset. Objectives could be to obtaincertain estimates or to establish a theory or to verify a existing statement to find relationshipbetween characteristics etc.3. The scope of investigation has to be made clear. It refers to area to be covered, identificationof units to be studied, nature of characteristics to be observed, accuracy of measurements,analytical methods, time, cost and other resources required.4. Whether to use data collected from primary or secondary source should be determined inadvance.5. The organization of investigation is the final step in the process. It encompasses thedetermination of number of investigators required, their training, supervision work needed, fundsrequired etc.
Execution of Statistical Survey
Control methods should be adopted at every stage of carryingout the investigation to check the accuracy, coverage, methods of measurements, analysis andinterpretation. The collected data should be edited, classified, tabulated, presented in diagramsand graphs, analyzed and interpreted.